History
The airline was established on 17 March 1967 under the name Air Volta. It was originally part owned by the Burkinabé government, part by Air France and part privately held. After the demise of Air Afrique, the state of Burkina Faso on 21 February 2001 privatised Air Burkina, transferring 56% of the shares to the AKFED / IPS consortium (part of the Aga Khan Development Network).
It purchased its first aircraft, an Embraer EMB-110 Bandeirante, in 1978, and added a second, a Fokker F28, in 1983. The airline has had serious debt problems, reaching a deficit of one billion CFA francs in 1992 (approx. € 1,500,000). However, by the time of privatization in 2001, the debt had largely been alleviated and the company was predicting an annual revenue of around 3.5 billion CFA francs (more than € 5,000,000). The company saw a general strike in 2002, when workers demanded a 25% wage increase. In the resulting conflict, the director-general of Air Burkina was forced to resign. The company works closely with Air Mali of Bamako, and codeshares with that airline on many routes.
Read more about this topic: Air Burkina
Famous quotes containing the word history:
“The reverence for the Scriptures is an element of civilization, for thus has the history of the world been preserved, and is preserved.”
—Ralph Waldo Emerson (1803–1882)
“It is remarkable how closely the history of the apple tree is connected with that of man.”
—Henry David Thoreau (1817–1862)
“Most events recorded in history are more remarkable than important, like eclipses of the sun and moon, by which all are attracted, but whose effects no one takes the trouble to calculate.”
—Henry David Thoreau (1817–1862)